PenAir Buys Mobile Service 1 FCU Branch

PenAir Credit Union has agreed to purchase certain assets related to Service 1 Federal Credit Union’s (FCU) branch in Mobile. The transaction between Michigan-based Service 1 FCU and Pensacola-based PenAir is expected to be completed by January 1, 2026. Branch employees will become part of PenAir. “The Gulf Coast has been our home since 1936, and we’re excited to deepen our roots with the Service 1 FCU Mobile branch, employees and members,” said Lee Morgan, PenAir president and CEO. “With its proximity to our headquarters in Pensacola, we can effectively enhance products, services and opportunities for both members and employees. In fact, members will gain access to more products and services, a larger network of branches, ATMs across the Gulf Coast, and enhanced digital banking tools.” In Alabama, PenAir operates branches in Spanish Fort, Robertsdale and Foley.